Jump to content

Kass: Rabbi and the Oracle


Vish_ram
 Share

Recommended Posts

Is it just a coincidence that the people who invested their life savings with Buffett during the early years never splurged and led a simple life?

 

Contrast this with lottery winners, a bulk of them declare bankruptcy after few years

 

First one, i dont think there was any restriction on investing in HF like it is now. I think if you want to invest in an Investment partnership now, you need to have $1mm or high earner. During 50s-60s, i guess you would these middle class earners as your clients.

 

Second, lottery winners dont earn money over time like buffett's clients. Plus there is survivorship bias with buffett's investors. I am sure there are so many who held BRK for couple of years and sold it for various reasons.

Link to comment
Share on other sites

Is it just a coincidence that the people who invested their life savings with Buffett during the early years never splurged and led a simple life?

 

Contrast this with lottery winners, a bulk of them declare bankruptcy after few years

 

First one, i dont think there was any restriction on investing in HF like it is now. I think if you want to invest in an Investment partnership now, you need to have $1mm or high earner. During 50s-60s, i guess you would these middle class earners as your clients.

 

Second, lottery winners dont earn money over time like buffett's clients. Plus there is survivorship bias with buffett's investors. I am sure there are so many who held BRK for couple of years and sold it for various reasons.

 

Of course, calculating inflation that 70k then is like 500k today.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...